Month 8 of the Spending Diet- Complete!

Well, I suppose Month 8 was technically “complete” like 13 days ago seeings as how this is the 13th of September and all but hey, here it is. Ripe for your viewing pleasure.

In August, I saved $387.35 (the Spending Diet remains far harder than the Spending Fast. In my opinion I suggest going for the gold, cutting through the B.S., getting through the tough transition/getting used to it part, reaping more benefits, and getting out of debt faster by cutting off your excess spending cold-turkey and just do the Spending Fast already. The Spending Diet allows discretionary spending which for me, was easier to cut out completely while I was changing my thoughts around money. I suggest using the Spending Diet method after the Spending Fast to gradually ease back into normal spending habits at the completion of the Spending Fast but that’s just what has worked for me).

Which brought my grand total of savings to $25,543.86. Which is kind of completely nuts. Remember, this money was saved by working my average paying day job as a clerk for the state, by spending on “Needs” only, by reducing the amount I spend on “Needs” even more, by creating additional income by thinking of creative ways to utilize my talents and skillz (yes, a Z- you know I had to), by selling all the junk and crap I no longer use, need and/or want, by starting the momentum of getting debt paid off, by writing about all of it to keep myself accountable, lots of other stuff that you can read about in the archives of the blog, but probably most importantly I finally learned how to tell myself “No”… and my word, that took long enough to get.

I didn’t do anything magical to get out of debt that you can’t do too. I’m going to write a post soon about all the reasons I hear about why people say they can’t do it too and I’ll tell you why they-you can. It’s gonna be juicy so stay tuned.

If you’re curious about the complete break-down on my savings and the respective monthly disbursements that have happened from Day 1 of the Spending Fast throughout 2010 and into 2011 through this years Spending Diet (which goes up to this very day) then you can see it all on the Total Savings page.

4 comments

4 thoughts on “Month 8 of the Spending Diet- Complete!

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  1. namelesswonder

    My biggest problem with a spending diet is that I don't know if I should pay off my student loans now (about $22k, graduated last year) or just keep with the minimum payments so I can save up and pay them off, but not any faster. I haven't had any issues with debt so far, and I don't have a credit card, but I'm worried about not having much reserve cash for things I need, like a washer and dryer.

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  2. Anna Newell Jones

    Hi Namelesswonder, Are the student loans the only debt that you have? Do you have a washer and dryer that you can use? Like at a public laundromat? Is your debt opressive and overwhelming to you? Do you think the quality of your life would be improved without your debt? Do you know someone who has a washer and dryer that you would like to buy but instead of buying it could you barter with them? Which would in effect be a trade. For example, you work on their yard or house or provide babysitting or tap into one of your individual skills to make the trade work rather than paying money outright for it? … Some things to consider…

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  3. Sarah Protzman Howlett

    Anna, you make an excellent point here—one that's so important to keep drilling home to your readers: That you can save (and/or not go into debt) no matter HOW much money you make. The biggest misnomer is "when I make more, I will save more," but the fact is you will never think you have 'enough' money. I was raised that 10% needs to come off the top, and THEN you budget for your daily living. I have done this since I made $30,000 at age 23, and now, at age 29, it's a habit and feels painless because I've always lived on less than I've made. If you can do it automatically through your employer 401(k), that's the ideal. It works! You can't spend money you never even saw.

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  4. Ali

    Man, I fell off big time when I traveled last weekend. BIG TIME. And that was only 10 days into my spending diet. Unreal. I'm having a difficult time picking myself up and brushing myself off to start again. Boo.

    Also, my blog is gone because paying $144 for Squarespace for one year is not on the Needs list. Need to move over to a free platform.

    You inspire, Miss Anna!

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